The said market is expected to grow from USD 17.82 billion in 2017 to
USD 48.88 billion by 2023, at a CAGR of 18.32% during the forecast period

Increase in venture funding, rise in demand for drone-generated data in
commercial applications, and rapid technological advancements are the
key factors responsible for the growth of the UAV drones market.
However, security and safety concerns and social issues such as privacy
and nuisance concerns are the key factors restraining the growth of the
UAV drones market.

The UAV drones market for precision agriculture is expected to grow at
the highest CAGR during the forecast period. Drones are useful for
agricultural planners. They reduce the time and cost required to conduct
an accurate survey, and offer benefits including real-time data
collection, high-resolution imagery of farmland, and lower cost compared
with other relative techniques. These factors and growing awareness
about the benefits of drones over other traditional farming techniques
are driving the growth of the commercial drones market for precision
agriculture applications.

Camera systems are used in UAVs for continuous video monitoring,
investigation, remote surveillance, border security, and protection of
critical infrastructure, thermographic inspection of inaccessible
buildings, and firefighting and law enforcement applications. The high
rate of adoption of cameras for military and commercial applications is
a key factor driving the growth of the UAV drones market for cameras.

North America is expected to hold the largest share of the UAV drones
market in 2017. However, the market in APAC is expected to grow at the
highest CAGR owing to the increase in the number of commercial drones
for precision agriculture, inspection and monitoring, and surveying
applications in this region. The ongoing tensions among the countries
over the South China Sea and Doklam and the growing concerns of
terrorism and security are expected to drive the use of military drones
in this region.